With labor markets this tight

[Duck_walk]

With unemployment this low, why aren’t wages soaring in a commensurate ratio?
Welcome to automation nation.

 

[Duck_walk]

 

[you_dont_know_me]

With unemployment this low, why aren’t wages soaring in a commensurate ratio?
Welcome to automation nation.

Yep. When labor and healthcare costs too much, you figure out ways to stay profitable. When minimum wage goes up, everyone loses but the minimum wage earners. Middle class loses.

 

[you_dont_know_me]

Capitalism is about equality of opportunity, but not equality of outcomes.

And yes, opportunity is easier for some, but always will be in any system. But the freedom to pursue it exists.